Question: Jim just purchased bonds with a $1,000,000 total par value and a coupon rate of 5%. If the bond has a maturity of 5 years,

Jim just purchased bonds with a $1,000,000 total par value and a coupon rate of 5%. If the bond has a maturity of 5 years, pays semi-annual coupons, and the current yield to maturity is 6%, what is the current market value of the bonds? What is the present value of the bonds all coupon payments?

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